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Fly News Breaks for February 25, 2016
ARIA
Feb 25, 2016 | 10:08 EDT
RBC Capital analyst Michael Yee said ARIAD shares remain cheap and the company may be "more amenable" for a takeout, though he noted that he doesn't have insight into specific talks the company is having while exploring options. Noting that Iclusig will have revenue of $300M down the road, Brigatinib is set for approval in 2017 and the company has a third cancer drug starting Phase I trials, Yee estimated that ARIAD should be worth at least $10 in a takeout scenario. The analyst keeps a Sector Perform rating and $8 price target on ARIAD shares.
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